Fed favorite Rick Rieder manages a $2.4 trillion BlackRock portfolio—and knows more about the bond market than anyone in America

In the last two weeks, Rick Rieder’s odds on Polymarket of becoming the next Fed chair have surged from low-single digits to nearly 50%, putting the veteran Wall Streeter far in the lead over second and third place candidates Kevin Warsh (29%) and Christopher Waller (6%). Rieder would bring a highly unusual background to the job. The current chief Jerome Powell is a former lawyer, private equity partner, and Treasury official, while his predecessors Ben Bernanke and Alan Greenspan were PhD economists (the former a Princeton professor...